All Forum Posts by: Allan Smith

I was going to say to talk to whatever contractors you plan to hire. If it's going to be a gc, have them get you a quote. They might do it for free the first time, and after that not answer phone calls, so offer to pay them.

if you plan to sub it out yourself, ask your subs their pricing. Flooring guy is probably $2/sf for labor, for example. Then add in materials cost.

over time you can look at photos and quickly be within 10k on estimating. Then you can itemize yourself knowing what you've paid in the past.

it's important to remember that air DNA shows the average nightly rate, but your occupancy might only be 50 or 60% at that rate. That's roughly what ours turned out to be.

85% is very unusual.  Will be tough to find.

You have to use regional and local HMLs. Those are the good ones. The big names like Lima are junk. Every market will have quite a few local guys and companies that close quick.

Wholesalers have these since they are still residential. But best bet is to talk to brokers. Regular MLS has junk deals in most markets.

If one long run on sentence is how you communicate professionally, I would say work on professional skills first before starting a wholesaling business. There are some fundamentals needed to get started in real estate and communication is one of them.

An answer of "both" is missing the essence of the question. In every market, there will be some houses with more CF, and others with more appreciation. It's a seesaw. The OP is asking for strategy regarding this dilemma.

I started out with cash flow leaning properties which helped build passive income to provide financial independence. Now I allow a little less cash flow roi if it's a good neighborhood with appreciation. 

but yes this is mostly the status of the current market. prices have outpaced rent growth in most B and A class neighborhoods.

Blue states are usually geared towards tenants. The politicians tend to lean towards social issues so property rights and profits for hard work and taking risk aren't valued as high.

How about we just do the deals for you and wire you the profit haha. Your post makes it sound like you've done zero legwork so far.

no but seriously what are your goals? Your why?

A house that old is probably not just a basic hump. It is probably more foundational related where you would have to level it out. Floor leveler is a scary product I would not recommend. That is a shortcut that gets nobody anywhere. A house that age I would just refinish the hardwood floors and roll with it. Especially since the walls have wood paneling and things that make it not look that weird to have a heaving floor.

in one of those pictures it looks like the floor goes up in the back of the photo by at least a couple inches, that's some considerable Foundation movement. Not unusual for a house that age though.